Tanzania has purchased 28 tons of gold over the past 18 months as part of efforts to strengthen its reserves and support the value of its currency, according to officials. The move reflects a broader strategy by the government to reduce reliance on foreign currencies and improve financial stability.
Gold has long been viewed as a safe-haven asset, and central banks around the world have increasingly turned to it in recent years as a buffer against inflation and global market volatility. For Tanzania, the purchases are also expected to boost confidence in the country’s monetary system and provide greater protection against external shocks.
The acquisition comes as several African economies look for ways to diversify reserves and build more resilient financial positions amid global uncertainty. By adding more gold to its holdings, Tanzania is signalling a more active approach to reserve management and long-term economic planning.
The government’s gold-buying programme may also support the domestic mining sector, which remains an important contributor to export earnings and employment. If sustained, the policy could become a key part of Tanzania’s broader economic strategy in the years ahead.
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